Heartland CPAs offers the Audit Shield Fee Waiver Service (provided by Accountancy Insurance Brokers Limited) to our clients. Audit Shield is cost effective protection and assistance against the substantial cost that may be incurred should the CRA or other Canadian Government revenue authority conduct an audit, enquiry, investigation or review.
Audit activity includes any audit, enquiry, investigation or review which is instigated by the Canada Revenue Agency (CRA) and other provincial agencies to ensure business and tax payer compliance with various tax and legislative requirements such as Personal Tax, Business Audits, Payroll Audits, GST/HST and Capital Gains Tax, amongst others.
The CRA and other government revenue bodies continue to focus on review and audit activity. These agencies are consistently provided with resources for this purpose.
Audit Shield is provided by our accounting firm and we hold an Audit Shield insurance policy (underwritten by Lloyds) which mirrors this service.
Our firm’s Audit Shield Fee Waiver Service provides for the payment of professional fees incurred as a result of your filed return being selected for an audit, enquiry, investigation or review. The cost of being properly represented in these matters can be quite significant. Even if no adjustments are required, you could still be left with considerable professional fees if you are not protected by Audit Shield. It provides a fixed, cost effective solution to guard against these unbudgeted costs.
No, Audit Shield is an option our accounting firm provides to you, our client. You have the opportunity to participate in or decline the offer.
The CRA has commenced a corporate post-assessing limited review project on Class 10 vehicle additions, focusing on tax years ended in 2015. Canadian taxpayers have begun receiving letters from the CRA indicating that information surrounding additions to Class 10 would be required for review.
Suite 620 - 1445 Portage Ave
Winnipeg, Manitoba R3G 3P4